Elon Musk warns that the Federal Reserve could face a Doge audit
Varney & Co. host Stuart Varney responds to Democrats’ attacks on Elon Musk over cost-cutting efforts in the federal budget.
Millionaire Elon Musk On Sunday, it showed that the Federal Reserve could face surveillance as Musk’s Government Efficiency (DOGE) continues to audit federal agencies and spending.
Musk wrote to X in response to a user’s post about billionaires’ support for the Fed’s audit that the central bank has not exceeded scrutiny from Doge.
“Every aspect of government must be completely transparent and accountable to people, if not, there are no exceptions. Federal Reserve System“Mask wrote.
Musk has been a longtime critic of central banks, repeatedly making decisions on monetary policy and claiming the Fed’s workforce is growing.
Powell pushes back Musk’s claim.
Elon Musk, leader of the Office of Government Efficiency (DOGE), warned that the Federal Reserve could face an audit. (Om Williams/CQ-Roll Call, Inc, Getty Images/Getty Images)
In May 2024, Musk posted, “Many employees are crazy on the Fed.”
billionaire CEO of Tesla and SpaceX Also last summer, the Fed was too late to cut interest rates, and in August the Fed wrote that “we need to lower interest rates,” “it’s stupid that we haven’t done so yet.” .
The Fed cut prices in September in line with market expectations, further cuts in November and December.
Federal Reserve Chairman Jerome Powell has pushed back Musk’s claim that the central bank is “absurdly excessive.” (Photo: Alex Wong / Getty Images / Getty Images)
Fed chair Jerome Powell The central bank’s workforce has been “overcovered by absurdly” at a press conference last month, following the decision by the central bank to stabilize it in the current 4.25% to 4.5% range. I was asked about the claim.
“We are fully aware of the very careful budgeting process. We owe it to the public. I believe we are doing it. I’m more than that about it. I don’t have a comment.